Quantbot Technologies LP Purchases Shares of 121,645 Intercontinental Exchange Inc. $ICE

Quantbot Technologies LP acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel reports. The fund acquired 121,645 shares of the financial services provider’s stock, valued at approximately $14,976,000. Intercontinental Exchange makes up 0.6% of Quantbot Technologies LP’s investment portfolio, making the stock its 8th largest position.

Several other large investors also recently made changes to their positions in the business. J. Stern & Co. LLP lifted its stake in shares of Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $6,245,085,000. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $714,869,000. Finally, Flossbach Von Storch SE purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $649,900,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares of the company’s stock, valued at $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,200 shares of company stock worth $3,035,385. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $161.29 on Friday. The business’s fifty day moving average price is $142.34 and its 200 day moving average price is $151.69. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65. The stock has a market capitalization of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 earnings per share. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on ICE. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. TD Cowen reaffirmed a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.